Coin Software Pty Ltd (COIN) has launched, as part of COIN Office v3.4, a new Comprehensive Statement of Advice (SoA) template to help financial advisers consolidate the data gathering process and create greater efficiencies.

The launch comes as figures from Investment Trends’ Planner Technology Report: September 2009 revealed that 54 per cent of financial planners cited merging data from different sources to produce SoAs, as one of the biggest challenges they currently face, demonstrating the need for more integrated SoA solutions.

The Comprehensive SoA template allows advisers to provide advice on a wider range of strategies than previously available, for both self managed super funds (SMSFs) and individual clients. These strategies include: non super and super; insurance; Centrelink and estate planning recommendations.
In addition to reducing the manual SoA editing time through the automatic population of key sections of the template, an important new feature is the inclusion of current tax and Centrelink rules and thresholds.

COIN’s Comprehensive SoA template also allows financial advisers to tailor the template to each individual client to help them deliver a SoA their clients will value and understand.

Robert McCabe, Head of Product and Technology for COIN / Web, said the release of the Comprehensive SoA template is part of COIN’s ongoing commitment to delivering new services and functions that help financial advisers improve their efficiency.

“Our main priority at COIN is to provide financial advisers with easy access to data and the tools to consolidate and clearly communicate information to their clients. Producing SoAs can be a time consuming and frustrating process but COIN’s Comprehensive SoA template can assist advisers to reduce the time spent on manual editing thanks to the increased automatic population function,” said Mr McCabe.

“As with all of our product enhancements, the Comprehensive SoA template has been developed in response to adviser feedback. At COIN we’re critically aware of the demand among planners for customer relationship management tools that streamline the information gathering process yet allow them to retain their unique identity. This is why we offer them the opportunity to also customise the SoA template, both for their business and the individual client.

“We have already received positive feedback from advisers on the new template and will continue to work closely with them to deliver flexible and functional software solutions that meet their individual business needs.”

Users of the Comprehensive SoA template will also benefit from the updated template wording. The template wording that reflects current terminology has been updated with a comprehensive list of “Word Tags”, which ensure advisers are provided maximum flexibility when constructing SoAs.

For more information contact:

Jessica Richards, Public Relations Ph: (02) 8237 4513 Mob 0414 985 237

Coin is a subsidiary of the Macquarie Group of companies.

COIN has used reasonable efforts to prepare the Statements of Advice in accordance with relevant Australian Securities & Investments Commission guidelines. However, advisers are solely responsible to determine the suitability and accuracy of the Statements of Advice, in the context of the advisers’ applicable licence conditions and statutory obligations.

COIN Office 3.4 is the latest market release and contains three iterations of development.

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